Overview
Event Details
Join the Tax and ERISA Groups for a complimentary 90-minute webinar on the Affordable Care Act’s IRS reporting requirements for employers and for health insurance issuers, multi-employer plans, governmental plans, and non-US sponsors of expatriate plans.
Date: Tuesday, October 27, 2015
Time: 12:00 p.m. - 1:30 p.m. ET
The deadlines for providing the new information returns to the IRS and to individual employees commence in February 2016, but the complexity and magnitude of the filing process may prevent timely compliance and lead to steep failure-to-file penalties, which are scheduled to double in 2016.
What if you can’t get the filings done on time?
The IRS has indicated that it will apply a “good faith effort” standard to information reporting for 2015, but has stated that no relief will be provided for reporting entities that make no effort to file.
Featured panelists for the October 27 webinar include:
- Joni Andrioff
- Cameron Arterton (former Deputy Tax Legislative Counsel, US Department of the Treasury’s Office of Tax Policy)
- Don Wellington (former Associate Benefits Tax Counsel, US Department of the Treasury’s Office of Tax Policy)
- Lisa Zarlenga, Partner (former Tax Legislative Counsel, US Department of the Treasury’s Office of Tax Policy)
Our webinar will focus on the meaning of a “good faith effort,” and will address the following:
- What will it take for employers and health insurance issuers to comply with the new reporting requirements?
- What can be expected in the audit process?
- What penalties apply?
- Under what circumstances may the IRS waive penalties?
- What types of inaccuracies may defeat a good faith effort?
- Can incomplete information returns still be in good faith?
- Can a complete failure to file the new returns ever constitute a good faith effort?
Is there other relief for failures if the good faith standard is not met?
CLE credit is pending in AZ, CA, NY, and VA.
